Dear Heinz,
first, thanks for the many thoughtful posts.
I agree, we could have one more blow-off. Or not. Given that, my moves have been very simple: I have July spx 1350 calls (which I purchased a couple weeks ago) and a SPY short. both fairly sizeable...the call dollars are about 10% of the short dollars; that seemed to "hang" fairly well, in my mind.
The spy short is a fairly "long-term" investment -- which, to me, is 6 months or more. the spx calls are to play a possible "one last run-up," which I can't imagine lasting into August.
And, within that playing field, I have a few longs, mostly oils (I disagree with you on oil pricing; I expect it to increase to the end of the year, at least...).
As always, it's hard to be both prudent and opportunistic. I guess I'll know if was in retrospect :)
Thanks again for the great commentary. |
